Dominguez backs opening economy via charter change

Finance Secretary Carlos Dominguez III supports amending the Constitution's restrictive economic provisions to open up the Philippine economy further.

Dominguez, speaking at a virtual meeting of the Management Association of the Philippines, emphasized opening sectors like retail trade and construction to foreign investors but excluded land ownership due to its emotional sensitivity.

Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua urged Congress to prioritize urgent bills that attract more foreign investments while Dominguez distanced himself from political aspects of charter change, citing concerns about the upcoming 2022 elections.